Tensions in Iran and soaring oil prices drag down Asian airline stocks

LootboxPhobia · 2026-03-02T05:25:33+00:00

Asian airline stocks plummeted sharply due to attacks by the US and Israel on Iran, with rising oil prices adding to market volatility and dampening travel sentiment. The stock prices of several companies, including Qantas, Cathay Pacific, and Singapore Airlines, all experienced significant declines.

LootboxPhobia

2026-03-02 05:25:33

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Investing.com - On Monday, Asian airline stocks plummeted as the US and Israel launched attacks on Iran, escalating regional tensions. Coupled with a sharp rise in oil prices, global markets experienced turbulence, and travel sentiment was dampened.

As of 04:31 GMT, Qantas Airways Ltd (ASX:QAN) in Australia fell 5%, having dropped over 10% during the day.

Cathay Pacific Airways (HK:0293) listed in Hong Kong declined 4%, and Singapore Airlines (SGX:SIAL) dropped 8%.

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Japan Airlines (TYO:9201) fell over 7%, with investors factoring in flight disruptions and rising fuel costs into the stock price.

Air China (HK:0753), China Southern Airlines (HK:1055), and China Eastern Airlines (HK:670) declined between 4% and 10%.

The decline was triggered by weekend military strikes by the US and Israel that resulted in the death of Iran’s top leader, prompting retaliatory missile attacks. This heightened concerns over prolonged conflict, leading to a significant increase in Brent crude oil prices.

Rising oil prices— a key cost component for airlines— added pressure on the sector, which is already dealing with route closures and flight cancellations in the Middle East region.

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